Belfast Telegraph

Monday 20 October 2014

Fraud accused 'had 500 dollar note'

Malaysian police have arrested a man allegedly carrying fake currency including a 500 US dollar note

Malaysian police have arrested a Lebanese man allegedly carrying fake currency with a face value of 66 million US dollars after he tipped a hotel staff with a 500 US dollar note.

The largest US note currently in circulation is a 100 dollar bill.

Yet police found bundles of one million, 100,000 and 500 dollar notes in the man's hotel room in Kuala Lumpur, the New Straits Times and The Star newspapers reported.

Hotel staff reportedly alerted police after a housekeeper received a 500 dollar note tip and found out it was fake when she tried to convert it to local currency at a money changer.

The man could be charged for possessing counterfeit money and, if found guilty, face up to 10 years in jail, The Star said. A police spokesman could not immediately give further details.

The largest US note ever printed was a special edition one for 100,000 dollars in 1934. Bills of 500 dollars were last printed in 1945 and are now no longer in wide circulation, according to the US Treasury Department.

This is not the first time the man has been in trouble with the law in Malaysia, the reports said.

A Malaysian court charged him last week with cheating over the sale of office supplies in 2005 in a separate case. Cheating, or fraud, carries a maximum penalty of five years.

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